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This dashboard attempts to analyze which validator shuts down the most in the past 6 months.
Terra Validators need to be up 24/7 in order to validate transactions and avoid being slashed and subsequently jailed. Slashing events severely lowers a validator's reputation in the eyes of the delegators. Here we will see which validators shut down most often and how many validators shuts down on a regular basis.
Below are the number of validators that missed at least 1 block in a day. Based on the graph, it seems like while overall only about 5% of the validators miss at least 1 block a day, there are certain dates where the numbers spike to as high as 40%. Comparing the graph with the price LUNA, the number of validators that missed at least 1 block are related to the price of LUNA, where the spikes in price normally results in the spikes of number of validators.
However, since validators are allowed to miss blocks and that 1 missed block is not enough of an evidence that the validator shut down. I've increased the missed blocks to 100 blocks. With around 6-7s block interval, missing 100 blocks in a day means that the validator has been out for at least 11 minutes that day, which in turn can be considered being "down" or shut down. Based on this assumption, the number of validators that shut down are more consistent throughout the months, which is about 5% per day.
Forbole, iqlusion, and Chainlayer are the top 3 validators that are often offline. Other than that, we can also find out that those that have lower voting power tend to be offline more often than those with higher voting power. This brings us back to the point that being offline or getting slashed is very damaging to a validator's reputation and trust. Who would want to get slashed right? In this case, we can say that being offline often reduces the validator's voting power, not the other way around.
Although missed blocks occur at least once to every validator at some point, as long as the missing blocks don't occur often, delegators will still trust and delegate to that validator. Other than that, it's also found out that about 5% of the validators "shut down" on a daily basis, with Forbole at the head, where it shut down (missed 100 blocks) at least once every other day.